Spend Less Time on Banking; More Time on Building Your Community
Managing an association (HOA), whether by management company or self-managed, can be a demanding and time-consuming job. You must manage finances, collect dues, maintain common areas, and deal with any issues that arise within the community. Amidst all this, you also must deal with banking needs for your community. At U.S. Century Bank, we understand the unique needs of associations and management companies, which has led to the development of a suite of products and services tailored specifically for associations.
Working with U.S. Century Bank
Banking with us means having a trusted partner who understands the local market and the intricacies of managing a community. Our experienced bankers have the necessary knowledge and expertise to handle the specialized requirements of your communities and homeowners. We are committed to providing you with exceptional service and making your banking experience as simple and easy as possible.
Our suite of products includes remote deposit capture, lockbox services, coupons, and on-line payments such as credit card, bill pay, and ACH payments. With remote deposit capture, you can deposit checks from the comfort of your office, without having to visit a branch. Lockbox services enable you to streamline the collection and processing of dues and payments, saving you valuable time and effort. Coupons allow for secure and convenient payment collection from homeowners. On-line payments enable you and the homeowner to automate regular payments and deposits, making your financial management more efficient and hassle-free.
Apart from our banking services, we also offer lending solutions that cater specifically to the needs of associations and management companies. With a multi-million-dollar legal lending limit and an understanding of the unique financial needs of your community, we are well-equipped to provide the right solution for your association. We understand that each community's situation is different, and our goal is to adapt and provide customized lending solutions to meet your specific needs.
Financing Major Projects
We can play a crucial role in providing financing for major property restoration projects. In cases where there are either no reserves or inadequate reserves in place, a bank loan is often the best option available. This is because it offers several key advantages to both the association and individual unit owners. First, a bank loan does not require an upfront payment from the unit owners. Instead, the financial burden can be reduced over time and spread out over the term of the loan. This can be a more feasible option for unit owners who may not have the immediate funds to cover the costs of a major restoration project. Additionally, improving the overall condition and appearance of the property through the loan can potentially increase property values, benefiting both the association and unit owners. Finally, the availability of bank funds at closing allows for a quicker resolution of required repairs or deferred maintenance issues. Overall, bank loans can provide a stable and effective means of financing major restoration projects for properties.
Your Community Bank
At U.S. Century Bank, we believe that by working together, we can make our communities a better place for businesses to thrive and families to prosper. You hold a crucial role in creating a strong and vibrant community, and we are here to support you every step of the way.